KFHE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KFHE
Largest movements
- Tangible fixed assets -€15,030
down €15,030 (-3.9%), from €387,582 to €372,552
of which Plant, machinery and equipment: -€8,730
- Receivables within one year +€7,945
up €7,945 (+116.6%), from €6,815 to €14,760
of which Trade receivables: +€5,445
- Debts after one year -€28,731
down €28,731 (-8.7%), from €330,005 to €301,273
- Profit (loss) carried forward +€17,858
up €17,858, from -€4,834 to €13,024
- Depreciation -€9,976
down €9,976 (-39.9%), from €25,006 to €15,030
- Gross operating margin +€9,044
up €9,044 (+23.3%), from €38,895 to €47,939
- Financial charges -€7,441
down €7,441 (-41.5%), from €17,951 to €10,510
of which Financial charges: -€6,941
- Other operating charges +€3,769
up €3,769 (+488.4%), from €772 to €4,541
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €465,353 | €455,307 | -€10,046 | -2.2% |
| Fixed assets | 21/28 | €387,582 | €372,552 | -€15,030 | -3.9% |
| Tangible fixed assets | 22/27 | €387,582 | €372,552 | -€15,030 | -3.9% |
| Land and buildings | 22 | €309,350 | €303,050 | -€6,300 | -2.0% |
| Plant, machinery and equipment | 23 | €78,232 | €69,502 | -€8,730 | -11.2% |
| Current assets | 29/58 | €77,771 | €82,754 | +€4,983 | +6.4% |
| Amounts receivable within one year | 40/41 | €6,815 | €14,760 | +€7,945 | +116.6% |
| Trade receivables | 40 | €1,815 | €7,260 | +€5,445 | +300.0% |
| Other amounts receivable | 41 | €5,000 | €7,500 | +€2,500 | +50.0% |
| Cash at bank and in hand | 54/58 | €70,956 | €67,994 | -€2,962 | -4.2% |
| Total equity and liabilities | 10/49 | €465,353 | €455,307 | -€10,046 | -2.2% |
| Equity | 10/15 | €20,166 | €38,024 | +€17,858 | +88.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,834 | €13,024 | +€17,858 | |
| Amounts payable | 17/49 | €445,188 | €417,283 | -€27,905 | -6.3% |
| Amounts payable after more than one year | 17 | €330,005 | €301,273 | -€28,731 | -8.7% |
| Other amounts payable | 178/9 | €330,005 | €301,273 | -€28,731 | -8.7% |
| Amounts payable within one year | 42/48 | €115,183 | €116,010 | +€827 | +0.7% |
| Trade debts | 44 | €424 | €400 | -€24 | -5.7% |
| Suppliers | 440/4 | €424 | €400 | -€24 | -5.7% |
| Taxes, remuneration and social security | 45 | €1,876 | €1,879 | +€3 | +0.1% |
| Taxes | 450/3 | €1,876 | €1,879 | +€3 | +0.1% |
| Other amounts payable | 47/48 | €112,883 | €113,731 | +€848 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,006 | €15,030 | -€9,976 | -39.9% |
| Other operating charges | 640/8 | €772 | €4,541 | +€3,769 | +488.4% |
| Gross operating margin | 9900 | €38,895 | €47,939 | +€9,044 | +23.3% |
| Operating profit (loss) | 9901 | €13,117 | €28,368 | +€15,251 | +116.3% |
| Financial charges | 65/66B | €17,951 | €10,510 | -€7,441 | -41.5% |
| Recurring financial charges | 65 | €17,451 | €10,510 | -€6,941 | -39.8% |
| Non-recurring financial charges | 66B | €500 | - | -€500 | |
| Profit (loss) for the period before taxes | 9903 | -€4,834 | €17,858 | +€22,693 | |
| Profit (loss) for the period | 9904 | -€4,834 | €17,858 | +€22,693 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,834 | €17,858 | +€22,693 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.